CSLG/EPAH. Ever gotten rid of a former law partner?
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Date: January 16th, 2018 12:04 PM Author: Jet charismatic school cafeteria persian
I'm ready to make the move. Any idea on the best way to do it? For what it matters he's never at the office, I bring in 90% of the personal cases, every one of our referral sources would stick with me, and I personally own the building because he didn't have the $ to buy in.
However, we have around 150-200 pending cases that I do not want to disrupt even though half+ of them have never met or spoke with him (they would come with me). He does have one very large case that he brought in that may close for ~$2 million in the next couple of months.
He is constantly broke and is currently in trouble with the IRS and I do not want to be audited with him. Recently he has handwritten himself multiple checks without telling me. He is desperate for money and the extent of his "practicing" law is begging for money or trying to figure out which cases we can settle the fastest so he can get paid. I have paid myself around 30k less than him in the last 60 days just to make him stfu, but it's only gotten worse.
My guess is he will propose we "split" the cases 50/50, which I'm not doing given the above. However, he's not dumb and would never give up his meal ticket without a fight is my guess.
Thoughts?
(http://www.autoadmit.com/thread.php?thread_id=3861378&forum_id=2#35167856) |
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Date: January 18th, 2018 12:57 PM Author: Jet charismatic school cafeteria persian
yeah this started out that way and ended up becoming more intertwined than i originally thought. to my own fault there is shit in the way of an operating agreement.
The options as I see them are a buyout that I would likely have to spread over a period of time, 6 months to a year where I continue to give him a % of the cases that I settle, somehow figuring out how to split cases for him to keep -- we have a good chunk of workers comp cases that I'm all for him taking -- or the nuclear option of asking each and every client who they want to stay with. We'd probably lose a chunk of clients who are freaked out but the large majority would come with me.
Figuring out a buyout value seems extremely difficult when it comes to contingency fee cases. I'm tempted to tell him to keep my portion of this medmal case that should close in the next few months and call that a buyout. My fee portion should be several hundred thousand dollars.
Gonna be a pain but I'm extremely relieved we finally had the conversation about splitting. He's already started backtracking but I'm going to stay on point. He won't be in the office until next Thursday so I'd like to have some kind of plan by then. He is desperate for $ so now is the time.
(http://www.autoadmit.com/thread.php?thread_id=3861378&forum_id=2#35183573) |
Date: January 18th, 2018 1:01 PM Author: Garnet diverse idea he suggested
Step 1) Tell him your Estate Lawyer is INSISTING you need a partnership agreement in place.
Step 2) Negotiate a partnership agreement without pushing too hard. It will not be "fair" and, given the shitty situation you're in, will end up being more in his favor than is reasonable. But it's worth it to avoid drama + fighting.
Step 3) Wait a few months
Step 4) Split up pursuant to the partnership agreement in whatever way is best for you.
(http://www.autoadmit.com/thread.php?thread_id=3861378&forum_id=2#35183614) |
Date: January 18th, 2018 11:01 PM Author: useless kitty cat
Don’t get a shitty partner.
Idk what would even happen if we broke up. But neither of us is a dick, so we don’t really care.
(http://www.autoadmit.com/thread.php?thread_id=3861378&forum_id=2#35186820) |
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